It’s never too late to hope to collect a staggering sum. Not even at 110 years old, when life gave you extra time to continue dreaming. Mrs Anna L., born in 1913 in Lanciano (Chieti) but resident in Rome, was convinced that she would be able to cash in on the 25 million interest-bearing postal voucher, discovered by chance only recently in her family home. However, when she turned to the post office, the response she received was not what she had hoped for. “Ma’am, this voucher is overdue, we can’t help you,” Anna was heard saying. But she didn’t give up. So she turned to the Giustitalia Association to try to obtain what she believes is hers.
Mrs. Anna is suing Poste Italiane
The voucher was issued on May 19, 1987. With an interest calculation made by the association that is following the lady, it would now be worth 195 thousand euros. Poste Italiane claims that the credit note is time-barred and, in any case, they had carried out a “downward” calculation amounting to just over 110 thousand euros.
«As far as prescription is concerned, BPF is not prescribed at all. In fact, the art. 2935 cc establishes that “the limitation period begins to run from the day on which the right can be asserted””, say the Giustitalia association. «The initial day of the limitation period coincides with the day of discovery of the credit instrument since previously the owner was not even aware of its existence and, therefore, certainly would not have been able to take action to collect it», they explain.
The value of the savings certificate
«With regards to the reimbursement value, in reality, upon closer examination of the relevant jurisprudence and the recent decisions of the Banking and Financial Arbitration, it emerged that the amount due was practically more than double compared to that proposed by Poste as the interest rates that must be applied are those printed on the back of the voucher and not those (considerably lower) that have followed one another over the years (also increasingly lower due to ever-increasing inflation)”, they say again from the association .
«In general, in fact, it must be considered that the capitalization net of withholding tax, for each of the first 20 years of duration of the Bonds, is illegitimate as in this case the tax moment provided for by the primary legislation would be brought forward. Article 26 of Presidential Decree 600 of 1973, in fact, provides for the application of withholding tax based on the “cash” principle and not that of accrual. And BFPs, unlike BTPs, do not distribute coupons during their duration – they say – Interest accrues every two months and is collected by the subscriber only when he shows up at the post office to collect the amount. It is therefore not fair to anticipate the application of the tax, also because the withholding tax is transferred by the Post Office to the State only when the subscriber presents the BFP for collection”.
Poste’s explanation
«Poste intends to apply this calculation methodology on the basis of article 7 paragraph 3 of the Ministerial Decree of 23 June 1997, but this rule simply specifies that on the amount of the Q Series Vouchers the interest “will continue” to be applied annually net of the withholding tax» , says the association.
For this reason, Mrs. Anna decided to present an appeal for an injunction before the Justice of the Peace of Rome, asking for a refund of 195 thousand euros.
Last update: Thursday 11 April 2024, 7.03pm
© ALL RIGHTS RESERVED
